I received several requests to update the “be prepared” chart, discussed in the “Who is knocking on the door” post… here you go!
For new viewers I posted the chart below on 4/13 (see post here) reflecting that the 500 index was up against MULTIPLE/LONG-TERM resistance lines. Shared in the post it was a time to be like a “Boy Scout and BE PREPARED!” The high took place 10 days later, a little less than a 3% gain, before breaking support.
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Below is the same chart, using the same channel lines, updated to reflect the current situation.
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It took the 500 index a second attempt to break resistance at (1), back in 2005-06. Now at (3), the 500 index is making a second attempt at the same falling resistance line.
Different time time???? As I shared in the chart above. Harvest? NO! Protect? YES!!!